Georgina

At 49 years of age, Georgina is a woman who has always worked hard to make income for her household. She has three children and has always done her best to provide them with a better future. She currently has a general store where she sells drinks, miscellaneous goods, bags and other products that her customers request. For Georgina, the most important thing is to fulfill her customers' shopping needs. For this reason, she always tries to keep her store stocked.

Georgina dreams of being a businesswoman with several general stores and creating several jobs. She knows that, in order to achieve this, she must work very carefully to see a gradual, notable progress. Right now, she needs to stock her business as a good season is approaching when her sales increase and, proportionally, her profits too. However, she doesn't have the capital she needs to buy enough products to stock her store well. For this reason, she is requesting a loan which will allow her to improve her business profits, increase her income and improve her quality of life.

Additional Information

Important Information

This loan is structured on Kiva as a bullet loan, which means a single payment is required at the end of the loan term. By Colombian law, Kiva's partner Interactuar is required to offer borrowers loans with a variable interest rate that fluctuates with the market rate. Because fixed monthly payments are applied first to interest and then to principal, Interactuar is unable to predict upfront what portion of each repayment would go towards the loan principal. This creates a challenge with Kiva's system, which doesn't allow for unpredictable principal payments, and can result in some Interactuar clients appearing falsely delinquent. To remedy this, the loan has an end-of-term repayment plan on Kiva, but the borrower will continue scheduled monthly repayments to Interactuar, who will then pass along the principal amount to Kiva lenders. This means that you may see repayments made on this loan throughout the repayment term, as opposed to receiving repayment in full at the end of the loan term.